"The worst thing you could do with this is build something that fulfills our need for exactly today," Fitzgerald, cohead of front-office engineering, told Business Insider. "We don't know how we will trade in two years' time, but I would hope this platform runs for 10 years or longer." This foresight reveals the project's aim to not only meet current demands but also adapt to future trading environments, ensuring long-term viability.
"It is a big multiyear project, so it should get the payback." The significant investment in the platform, termed Condor, underscores its expected returns and can position Man Group to realize efficiencies in systematic trading across diverse asset classes.
Man anticipates spending tens of millions of dollars overall on building Condor. The project will involve almost everyone at Man AHL as well as significant numbers of people from central teams, according to a spokeswoman for the firm.
Fifteen years ago, Man AHL was mostly known for its systematic futures trading. Since then, the firm has expanded to other asset classes, like equities, corporate bonds, and options, all with varying holding periods and investing styles.
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